How can I get paid faster on my invoices?
Updated: Feb 27, 2020
Most business owners have to offer terms to their clients to win the business. In many cases, the average terms are 30-45 days after the work is complete or the product is shipped.
The problem with this is, you as a business owner, still have daily and weekly expenses to run your company.
In an Invoice factoring or account receivable financing transaction, the capital provider, or factoring firm, approves a financing request based on the strength of your clients. Once approved, a typical advance is 75% to 80% of the approved invoices submitted, often within 48 hours, with the remaining 20% balance being paid to you, minus the factor firm fees, once the invoice is paid in full by your client.
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